AB averaged a 23% annual savings in energy costs.
Introduction
AB Microfinance Bank Nigeria is a German headquartered, pan-African financial institution with a major operating hub in Nigeria. Having over 12 years of experience and over 25 branches across the nation, it provides a wide range of financial services to micro, small, and medium-sized businesses (MSMEs) and other low-income clientele.
Challenge
Previously, AB’s head office staff had struggled with the double impediments of high power costs and the absence of a fair system that allocates and controls energy operations and resources across its branch network. Backup power solutions were required and represent a large portion of operational expenditures. AB had no reliable means for determining the actual costs spent on energy for each of its branches.
Approach
In order to address the problems it was facing, AB’s team reached out to Smarterise. Our diagnosis concluded that AB was not having accurate information and data to make the right decisions about its energy expenditures. Reporting was done manually thus prone to errors.
With energy monitoring, Smarterise helped AB track its energy consumption over time and store the data. We analysed the energy data and derived insights for AB to assess its overall and individual energy performance across its branches. They are also able to make calculated cost projections for future usage and know how to best prepare for what is to come.
Results
As a result of the energy monitoring, AB averaged a 23% annual savings in energy costs, compared to benchmark and has been able to reduce costs.
Our solution for businesses like AB has won an award from the
AEE for its innovativeness, and impact in 2022.
Conclusion
With Smarterise, AB has been able to focus on its mission, striving to be one of the leading providers of services in Nigeria while Smarterise relieves it of one extra burden, monitoring and optimising its energy operations.
We have been able to highlight problems specific to individual branches and save time significantly thanks to the automated reporting done by Smarterise. Finally, our team can allocate the correct resources for every branch at all times.
—Klaus Muller, CEO, AB Microfinance Bank
